The terms for the auction of the world-famous Razor Residence, designed by renowned architect Wallace E. Cunningham, have been changed. Interested bidders are no longer required to wire in $500K to the trustee one week prior to the auction. Instead, bidders are now allowed to show proof of funds to close the sale two days prior to the auction! This change is to encourage interested parties to seal the deal before the auction in order to get the best price possible.
Who: For qualified bidders only (to participate, bidders or their authorized representatives must bring a Cashier’s Check in the amount of $500,000 made out to themselves or to Leslie Gladstone, Trustee)
What: The auction will be an oral bid
When: 11AM PDT on Thursday, November 10, 2011
Where: The office of the attorney for the Trustee: Jeff Davis of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. at 3580 Carmel Mountain Road, Suite 300 in San Diego, California
How: The auction will be conducted by the Trustee; the bidding will begin at US$13,900,000, and bids are required to be in US dollars and in cash
Parties interested in potentially purchasing the property prior to the auction should contact Bob Hurwitz to schedule an appointment right away at 888-681-5902.
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